Data from the Labor Department was shown on Tuesday slowdown in inflation In America, stock markets rose all over the world, and the main US stock indexes recorded sharp increases at the start of the day, only to then sacrifice a large percentage of them, in anticipation of surprises. Powered the next day.
And after climbing more than six hundred points, the Dow Jones Industrial Average ended the trading day having lost nearly five hundred, and the “S&P 500” index added three quarters of a percentage point to its value, while the Nasdaq it climbed 1 percent, despite posting gains of more than 3.5 percent earlier in the session.
The consumer price index in America rose in November at an annual rate of 7.1%, to a record lower growth rate Since last year, in what appeared to be a green light for the Federal Reserve to moderate its restrictive policies and protect the country from entering a… recession.
The index rose only 0.1% from the previous month, while the index core inflationwhich excludes highly volatile food and energy prices, a 0.2% monthly increase and a 6% annual increase, which are rates not seen in more than a year.
And I benefited from it European stocks From US inflation data, while the European Stoxx 600 index rose 1.3%, after US data bolstered investor expectations that major central banks around the world will head for the easing the pace of rate hikes in the coming period.
The bank meets central European decide the interest rate next Thursday, and so he does Central Bank of England. Final data confirmed that consumer prices in Germany rose 11.3% year-on-year in November, following an 11.6% increase in October.
Oil futures finished the day with strong gains, as Brent crude futures edged up to $80.68 a barrel, up 3.5%, while US West Texas crude futures edged up $ 75.39 per barrel, an increase of almost three%.
Both benchmarks posted the biggest daily gains in more than five weeks.
The market was buoyed by fears of supply disruptions triggered by factors including the continued closure of the Keystone Crude Pipeline from Canada to the US after a major leak last week.
On the other hand, the dollar index fell after US inflation data showed growing chances that the US Federal Reserve will hike interest rates at tomorrow’s meeting by no more than 50 basis points, which supported the demand for other currencies.